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okay what is a joint venture well a joint venture is very similar to a partnership in nature and joint ventures undertake specific tasks to make certain that they are not interpreted as partners but generally it involves two or more separate individuals or entities generally joint ventures are carried on by business entities for a specific task or purpose okay the parties maintain a ton of autonomy from each other they dont allow the other party to represent them generally they represent they can only act within the scope of this limited purpose agreement which they are undertaking and in that way they separate themselves from partnerships a joint venture is generally going to be pursuant to an agreement and this types of special purposes that the business entities undertake are generally have a a specific objective or specific start and end date such as it may be the objective of entering in a new market to introduce a product in a new country or it could be for a specific real estat
